Robinhood suspends instant deposits for crypto purchases over DOGE spike
Market mayhem continues as WallStreetBets takes on crypto. Stock and cryptocurrency-trading platform Robinhood has temporarily disabled instant deposits for cryptocurrency purchases as of Jan. 29, citing "extraordinary market conditions."Users are still able to buy cryptocurrency using settled funds that have previously been deposited, although such deposits can take up to five business days to clear.A Robinhood spokesperson told CNBC that the company would "keep monitoring market conditions and communicating with our customers.Robinhood has faced recent criticism for suspending trading in....
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The feature was originally suspended on Jan. 29. Stock and crypto trading app Robinhood has reportedly re-enabled instant deposits for cryptocurrency purchases after almost a week.Robinhood has removed the original update on its support page suspending instant deposits, and its website currently shows certain users once again have "instant access" to up to $1,000 to buy crypto. Many of the app’s users also reported on social media they were able to access the trading feature last night.The "instant buying" function is a paid feature that gives Robinhood customers instant access to funds....
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